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In Focus: F&Idol ­Finalists Revealed

These five individuals were named finalists for having the best on-camera F&I presentations in one of five categories. One of them will be this year’s F&Idol winner.

September 2012, F&I and Showroom - Feature

by Editorial Staff

In its second year, the Innovative Aftermarket Systems (IAS)-sponsored F&Idol contest, once again, sought out the best F&I presentations in five product categories. This month, F&I and Showroom magazine reveals the best of the best, and offers a few highlights from their video entries.

In July, readers were asked to submit their best on-camera pitch in the following categories: GAP, Key Replacement, Vehicle Service Contracts, and Tire and Wheel. Added this year was a new category that allowed contestants to submit an entry for a product category of their choosing.

The videos had to be less than five minutes long, and show the F&I producers handling at least two objections. Entries were then reviewed by a panel of eight judges, including Bob Corbin of IAS, F&I and Showroom magazine’s Gregory Arroyo and “Mad” Marv Eleazer, celebrated F&I trainer Ron Reahard, Great Lakes Companies’ Steve Veldkamp, CNA National’s Alan Miller, compliance expert Robert Harkins, and United Development Systems’ Randall Crisorio.

Rising to the top were three F&I producers from Michigan, one from Maryland and one from New Jersey. They each received a cash prize of $1,000, as well as airfare and hotel accommodations to Paris Las Vegas, the site of the magazine’s Industry Summit 2012. One of them will be selected as the 2012 F&Idol winner, and will receive a check for $2,500. Here’s a look at this year’s finalists.

GAP
Raymond Borg

Store: Suburban Toyota, Troy, Mich.
Years in the Business: 19
Years at Current Dealership: 9

Claim to Fame: He’s Mr. Consistent at The Suburban Collection, averaging 1.9 products per deal at his Toyota store. His profit per vehicle retailed (PVR) sits around $1,000.

Keys to Success: The support he gets from F&I Director Gary Allgeier, and Great Lakes Companies, the group’s income development company. Borg also attributes his success to the video recording system the group installed in all F&I offices. Seeing himself in action allows him to spot opportunities for improvement, he says.

Customer Objection: I really want to stay within my budget.

Raymond: I understand. You’ve probably settled with your wife what the budget should be, and I respect that. I have one more suggestion I’d like to show you: So, you told me you understand what GAP is, you just don’t want to have a higher payment. There is a solution and it’s called a 63-month term. It only adds three more months to your payment. It not only keeps your payment down, but, from what I’m looking at, it actually drops your payment $5 and gives you the GAP.

So I’d like to recommend that. It’s $5 less, your wife is going to be happy because you’re coming home with a lesser payment, and guess what? That GAP coverage, you’re going to be very excited because you’ll be fully covered if something potentially catastrophic happens that causes a total loss. Would you like to go with that GAP coverage?

Next page: Key Replacement and Vehicle Service Contracts

Comment

  1. 1. horace parker [ September 28, 2012 @ 03:29AM ]

    Thanks for sharing,i agree with the continual training concept.Keep your mind fresh and ready by feeding it positive training.It takes ongoing training to stay sharp in this market.Keep up the great job!

  2. 2. John Melton [ October 10, 2012 @ 05:41AM ]

    These are great examples of the quality people we have in the industry, I commend them. I would enjoy being able to see and perhaps show tge honorable mention winner to F & I classes we hod here for a little levity.

 

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